Ares Capital Co. (ARCC) to Issue Quarterly Dividend of $0.38 on December 29th

Ares Capital Co. (NASDAQ:ARCC) declared a quarterly dividend on Thursday, November 2nd, RTT News reports. Shareholders of record on Friday, December 15th will be paid a dividend of 0.38 per share by the investment management company on Friday, December 29th. This represents a $1.52 dividend on an annualized basis and a yield of 9.21%. The ex-dividend date is Thursday, December 14th.

Shares of Ares Capital (NASDAQ:ARCC) opened at $16.50 on Wednesday. Ares Capital has a 12-month low of $15.48 and a 12-month high of $17.87. The firm has a market capitalization of $7,021.15, a PE ratio of 11.44, a price-to-earnings-growth ratio of 3.98 and a beta of 0.63. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.29 and a quick ratio of 1.29.

Ares Capital (NASDAQ:ARCC) last announced its quarterly earnings results on Thursday, November 2nd. The investment management company reported $0.36 earnings per share for the quarter, topping analysts’ consensus estimates of $0.35 by $0.01. Ares Capital had a return on equity of 8.60% and a net margin of 45.78%. The company had revenue of $294.00 million during the quarter, compared to analysts’ expectations of $295.02 million. During the same quarter in the previous year, the firm earned $0.43 earnings per share. sell-side analysts expect that Ares Capital will post 1.38 EPS for the current fiscal year.

ARCC has been the subject of several research analyst reports. BMO Capital Markets reissued a “hold” rating and set a $15.00 price objective on shares of Ares Capital in a research report on Friday, August 25th. Citigroup initiated coverage on Ares Capital in a research report on Wednesday, September 20th. They set an “outperform” rating and a $18.00 price objective for the company. Oppenheimer initiated coverage on Ares Capital in a research report on Thursday, September 21st. They set an “outperform” rating and a $18.00 price objective for the company. CIBC initiated coverage on Ares Capital in a research report on Thursday, September 21st. They set an “outperform” rating and a $18.00 price objective for the company. Finally, Zacks Investment Research cut Ares Capital from a “hold” rating to a “sell” rating in a research report on Tuesday, October 3rd. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and ten have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $18.00.

In other news, Director Michael J. Arougheti purchased 8,365 shares of the business’s stock in a transaction on Friday, November 3rd. The stock was purchased at an average price of $15.85 per share, with a total value of $132,585.25. Following the acquisition, the director now directly owns 937,054 shares in the company, valued at approximately $14,852,305.90. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. In the last ninety days, insiders acquired 8,965 shares of company stock valued at $142,323. Insiders own 0.45% of the company’s stock.

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Ares Capital Company Profile

Ares Capital Corporation is a specialty finance company. The Company operates as a closed-end, non-diversified management investment company. The Company’s investment objective is to generate both current income and capital appreciation through debt and equity investments. It invests primarily in the United States middle-market companies.

Dividend History for Ares Capital (NASDAQ:ARCC)

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